Lewis v. Commissioner
United States Board of Tax Appeals
A loss on the sale at market of shares purchased and sold less than thirty days after the sale at a nondeductible loss of similar shares held more than two years is deductible as an ordinary loss incurred in a transaction entered into for profit.
1Opinion of the Court
WADSWORTH R. LEWIS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Lewis v. Commissioner
Docket No. 75957.
United States Board of Tax Appeals
34 B.T.A. 996; 1936 BTA LEXIS 615;
September 17, 1936, Promulgated
A loss on the sale at market of shares purchased and sold less than thirty days after the sale at a nondeductible loss of similar shares held more than two years is deductible as an ordinary loss incurred in a transaction entered into for profit.
Harry W. Forbes, Esq., and John A. Wilson, Esq., for the petitioner.
Gerald W. Brooks, Esq., for the respondent.
A. Chauncey Newlin, Esq.,…
2Cases cited1 opinion
- Lewis v. CommissionerUnited States Board of Tax Appeals · 1936